Thinkprogress:
Today, the Globe reports that another Pentagon contractor, Virginia-based MPRI, has also established offshore havens that have the appearance of avoiding payment of millions of dollars in Medicare and Social Security taxes and also evading scrutiny from the IRS:
In March 2005, one of the Pentagon’s most trusted contractors - Virginia-based MPRI, founded by retired senior military leaders - won a $400 million contract to train police in Iraq and other hotspots. Two months later, MPRI set up a company in Bermuda to which it subcontracted much of the work. […]
A year earlier, MPRI headed a joint venture that won a $1.6 billion contract to provide US peacekeeping forces in Kosovo and elsewhere. Three months later, MPRI set up a company in the Cayman Islands to do the work.
But tax lawyers say that MPRI appears to be avoiding the payment of roughly $4 million dollars a year in Social Security and Medicare taxes for the police-training contract alone and is sidestepping scrutiny by hiring workers through offshore entities based outside the jurisdiction of the Internal Revenue Service.
1 comment:
Americans don't see a problem with that as all the White House will do is raise the taxes to make up for the stolen money. Dick Cheney took the job as VP to do just what he's doing. Make sure the companies he has shares in get the US contracts during the War Profiteering years and make then tax free. Americans have had their heads in the sand so long all they know is the White House is sending them a rebate check that will be double taxed at the end of the year. Look if you can find people with a sign on their back that says kick me I'm stupid and you find they don't mind just keep doing it.
Now Paulson not only talks stupid and shows he has no idea what he's doing but he stays to make sure his personal company gets it's share of the stolen money.
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